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Stock Market 3 February 2026

AI disruption fear drags Nasdaq lower as Alphabet, Amazon earnings loom

AI disruption fear drags Nasdaq lower as Alphabet, Amazon earnings loom

U.S. stocks fell on Tuesday as investors worried that artificial intelligence would create new rivals for software makers and squeeze margins. The S&P 500 fell 1.46% and the Nasdaq dropped 2.17%, with Nvidia, Microsoft, Alphabet and Amazon sliding ahead of earnings from Alphabet on Wednesday and Amazon on Thursday. Art Hogan at B. Riley Wealth said some software names “may well be disrupted by AI,” while John Campbell of Allspring Global Investments said the market had “expectations … really high.”
Stocks Slide as AI Disruption Jitters Hit Tech — Earnings Wave Looms

Stocks Slide as AI Disruption Jitters Hit Tech — Earnings Wave Looms

Wall Street dipped Tuesday, dragged down by software stocks rattled over worries that emerging AI tools could tighten margins and shift the competitive landscape. Investors also grappled with a flood of earnings reports from major U.S. firms. https://www.reuters.com/business/sp-nasdaq-futures-edge-up-earnings-deluge-takes-center-stage-2026-02-03/
AST SpaceMobile (ASTS) stock jumps 6% as SpaceX-xAI merger lifts U.S. space shares

AST SpaceMobile (ASTS) stock jumps 6% as SpaceX-xAI merger lifts U.S. space shares

Shares of AST SpaceMobile climbed roughly 6.3% to $111.11 by 2:46 p.m. EST Tuesday, after fluctuating between $105.82 and $116.60 earlier, with about 11.5 million shares changing hands. The stock followed a broader rally in U.S. space companies sparked by Elon Musk’s announcement that SpaceX will merge with xAI, valuing the combined entity at $1.25 trillion. Rocket Lab, Planet Labs, and Intuitive Machines also saw gains. Musk predicted that within two to three years, the most cost-effective way to power AI will be from space. Mark Boggett of Seraphim Space called the deal “the strongest validation yet that space will be the backbone of the next wave of AI.”
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